GLOBAL DEPRESSION - 22 Reasons for an Economic Collapse In Europe In 2012

GLOBAL DEPRESSION - 22 Reasons for an Economic Collapse In Europe In 2012

If the EURO UNION / EURO goes to hell in a handbasket......SO DOES THE USA economically.

I suggest EVERYONE read the FULL STORY at the link on the bottom of this article snippet.

2012 Euro bond obligations ARE going to default.

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22 Reasons Why We Could See An Economic Collapse In Europe In 2012

"It would be hard to overstate how much of a crisis Italy represents. The following is how former hedge fund manager Bruce Krasting recently described the current situation….

At this point there is zero possibility that Italy can refinance any portion of its $300b of 2012 maturing debt. If there is anyone at the table who still thinks that Italy can pull off a miracle, they are wrong. I’m certain that the finance guys at the ECB and Italian CB understand this. I repeat, there is a zero chance for a market solution for Italy.

Krasting believes that either Italy gets a gigantic mountain of cash from somewhere or they will default within six months and that will mean the start of a global depression."

"...it looks like a run on the banks has already begun in Europe. The following comes from a recent article in The Economist.

“We are starting to witness signs that corporates are withdrawing deposits from banks in Spain, Italy, France and Belgium,” an analyst at Citi Group wrote in a recent report. “This is a worrying development.”

"...it looks like a run on the banks has already begun in Europe. The following comes from a recent article in The Economist.

“We are starting to witness signs that corporates are withdrawing deposits from banks in Spain, Italy, France and Belgium,” an analyst at Citi Group wrote in a recent report. “This is a worrying development.”

Corporates have been doing that for a little while, most obvious where the UK ones withdrawing from the continent and building what appears to me to be a corporate firewall, the sums throw around by some of the larger auditing firms are that they have already stock piled over £1 trillion in funds.

I am sure that is going on across the globe, further exacerbating the current situation as they sit on funds rather than use them to expand/grow, which leaves me with the distinct feeling that one the one hand they are preparing for something to happen, while on the other by sitting on those funds they are ensuring it does happen.